Published: 2025-04-03T12:56:21.000Z
Chart EUR/JPY Update: Heightened volatility in broad range
Senior Technical Strategist
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The spike above resistance at 164.00 has been pushed sharply lower in volatile trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | ** | break level | S1 | 161.00 | break level | ||
| R3 | 164.00 | ** | break level | S2 | 160.00 | * | congestion | |
| R2 | 163.20 | intraday lows | S3 | 159.00 | * | break level | ||
| R1 | 162.00 | * | congestion | S4 | 157.30 | * | 25 Feb (w) high |
Asterisk denotes strength of level
13:40 BST - The spike above resistance at 164.00 has been pushed sharply lower in volatile trade, with prices meeting buying interest above congestion support at 160.00, before settling into choppy trade beneath 162.00. Intraday studies and daily readings are mixed, suggesting a cautious tone and room for further choppy sideways price action. Resistance is at 162.00 and extends to 163.20. But a close above 164.00 is needed to turn sentiment positive and confirm continuation of February gains. Meanwhile, a close below 160.00 would turn sentiment negative and extend losses initially to 159.00.